Unfortunately, there are those who are more than willing to launch what is known as velocity attacks. Choosing to find the right solution to REDUCE VELOCITY ATTACKS ON YOUR MERCHANT ACCOUNT is a smart move that serves the business owner well.

Understanding What Happens During an Attack

A velocity attack generates a number of unauthorized charges using the merchant account as the mechanism. Some of those charges may be to credit and debit cards customers have used for purchases in the past. Depending on the nature of the software used to launch the attack, it could generate random number sequences and create charges every time a sequence happens to relate to a valid credit card number. The result is that the merchant begins the business day with charges that have nothing to do with the previous day’s activity.

What Happens After an Attack?

Once a velocity attack has taken place, there’s a lot of cleaning up to do. The first thing the merchant has to do is sort out which charges are valid and which ones were generated during the attack. In many cases, the time and date stamping will simplify the process. Even so, the amount of time needed to identify the unauthorized charges can be significant.

The merchant will also need to communicate with the bank and with the card issuers. This helps to neutralize the immediate problem by preventing those same numbers from being used again. It also provides the chance to reverse unauthorized charges as swiftly as possible.

Dealing With the Damage

Even if the merchant realizes what has happened and moves quickly to remedy the issue, there will be some fallout. One of more significant results is that customers lose faith in the ability of the merchant to protect their financial information. As a result, they choose to shop on a different website or buy their goods from a different brick and mortar retailer.

There is also the matter of the amount of time and effort needed to clean up after an attack. Depending on the severity, it could days or possibly weeks to undo the damage. All that time could be better spent on managing other aspects of the business. Thanks to the attack, there’s a great risk of leaving something essential undone and having to deal with more problems.

Protection is the Way to Go

Taking a proactive approach is the most practical way to REDUCE VELOCITY ATTACKS. Working with a professional to ensure the merchant account is equipped with filters and detection software will make it harder for a security breach to occur. Upgrades from time to time ensure that the protection can withstand whatever new programming hackers have written to work around the preventive measures that worked in the past.

Even if a velocity attack has never occurred before, don’t assume one won’t take place tonight. Contact a specialist who can provide the right solution and protect the integrity of the merchant account. The cost will pale in comparison to the damage that a single attack can cause.

About Us

Maverick BankCard is a leading electronic payment processor based in Los Angeles. As a full-service payment provider, Maverick handles all processes in-house including underwriting, risk management, customer service, and more, while providing industry-leading technology.